UAE markets 24 Feb 2009

UAE market news & discussions for 24 February 2009 Abu Dhabi had a much better day than Dubai with a 1.7% rise to 2339 points with turnover of AED 237m from 133m shares. The DFM gave up half the impressive gain yesterday, falling 3.8% to 1590 points with turnover still robust at a little over AED 1 billion from 780m shares traded. On the Nasdaq Dubai, DP World is down 12.5% to $0.21, and Depa unchanged at $0.44. Asian and European stocks are down but US stock futures are up today. Prime Securities released a report on Arabtec shares yesterday, rating them a buy. Depa Limited's Moroccan subsidiary was awarded a contract worth AED 183 million. Etisalat's BOD proposed a 35% cash dividend for 2008 H2, and a 10% share dividend Bildco shareholders approved a 20% cash dividend in yesterday's AGM (not confirmed) National Bank of Fujairah announced 08FY results and buried the figure for the loss in a four-page press release. The NBF CEO resigned in November 2008, a little over a week after NBF announced an 87 million dirham loss for the third quarter. Shuaa released their Vision 2009 statement with comments on industry sectors and individual companies. Shuaa's vision was a bit blurry in 2008 - they lost almost 1 billion dirhams. Taqa Energy started buying back shares - almost 5 million today. Full year results may be seen later today for Dubai Islamic Bank and Union Properties. AGMs tomorrow include Waha Capital and First Gulf Bank. Board meetings tomorrow include Arkan Building Materials and Aramex. Tomorrow is the last trading day to be eligible for RAK Cement dividends. UAE fourth quarter results - table of financial results so far, with dividend and AGM information UAE financial news - latest news from Reuters, Bloomberg and UAE media Sharewadi calendar - important dates Dubai Financial Market Dubai Financial Market (DFM), Arabtec (ARTC), Emaar Properties (EMAAR). and Air Arabia (AIRARABIA) dominated trading again, with Dfm and Arabtec both 10% limit down, Air Arabia with a 6.9% fall, and Emaar only down by 3.2%. Most other stocks saw falls of more than 5%. There were only 6 gainers, and only Al Sagr National Insurance (ASNIC), up 3.9%, and Al Salam Bank (SALAM_BAH), up 1.1%, rose on turnover of more than AED 1m. Abu Dhabi Securities Exchange Emirates Telecom (ETISALAT) with a 7.3% increase to 10.80 on heavy trading helped drag the index up after its dividend news, and Abu Dhabi National Energy (TAQA) saw 10% limit up trading as they bought back their own shares. Bank of Sharjah (BOS) was also limit up with greater than usual trading activity. RAK Cement continued its climb, taking number 3 spot by traded value, ahead of shares going ex-dividend on Thursday. Aldar Properties (ALDAR) and Sorouh Real Estate (SOROUH) were the most heavily traded stocks but saw small falls of 1.2% and 0.4% respectively. National Bank of Abu Dhabi (NBAD) fell 3.5% but from thin trading.

UAE stock market news and discussions at Dubai Share Talk ...

	Latest posts and topics (click timestamp for last post)	Last Post By	Last Post Date
NBF 2008 loss? sharewadi Tue 24 Feb 2009 14:45 Arabtec Prime report spin Tue 24 Feb 2009 14:30 Shuaa UAE Vision 2009 Fran Tue 24 Feb 2009 14:18 Depa Mazagan Morocco sharewadi Tue 24 Feb 2009 13:34 Marketwatch ADX DFM February 2009 adeelakhtar Tue 24 Feb 2009 13:12 Etisalat dividends 2008 sharewadi Tue 24 Feb 2009 10:52 DFM Stock Game 2008? rmhumr Tue 24 Feb 2009 08:25 Dubai bond EFG report Bimcnorth Tue 24 Feb 2009 02:43 UAE merger possibilities Bimcnorth Mon 23 Feb 2009 23:11 BOS 2008Q4 profit Dh69m -56% khurrammts Mon 23 Feb 2009 18:03 Dubai government bonds sharewadi Mon 23 Feb 2009 16:23 John Laing Homes bankrupt Foxy Mon 23 Feb 2009 14:00 ADX Reuters investor relations sharewadi Mon 23 Feb 2009 12:35 DFM stock game sharewadi Mon 23 Feb 2009 11:31 Dana Azhar Egypt sharewadi Mon 23 Feb 2009 11:17 Dubai property sales increasing Fran Mon 23 Feb 2009 10:07 Sharjah property no foreign ownership Fran Mon 23 Feb 2009 09:08

best stock rises symbol price change BOS 1.54 +0.14 +10% ASMAK 28.95 +2.60 +9.9% TAQA 1.35 +0.11 +8.9% ETISALAT 11.05 +0.75 +7.3% GGICO 2.66 +0.18 +7.3%

worst stock falls symbol price change FH 4.95 -0.54 -9.8% ARTC 1.76 -0.19 -9.7% DFM 1.33 -0.14 -9.5% SHUAA 0.91 -0.09 -9% IAIC 0.62 -0.06 -8.8%

top volume symbol value (AED) price DFM 325,618,720 1.33 ARTC 246,713,243 1.76 EMAAR 230,765,152 2.10 AIRARABIA 105,067,686 0.95 ALDAR 64,388,301 2.43

• Comment on this report and view previous reports on the Share Wadi blog.
• Discuss UAE companies at Dubai Share Talk.